DEFAC Increases Delaware Revenue Forecasts

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Delaware’s revenue forecast continues to improve. The Delaware Economic and Financial Advisory Council met for the first time since the FY 2019 budget was approved – and has raised the revenue estimate for this year by $43-million and $34-million for 2020. The new money comes from a combination of higher revenue estimates and legislative changes which includes changes to laws governing Delaware’s casinos and real estate transfers. DEFAC is forecasting state lawmakers will have about $4.65-billion to work with for the fiscal year 2020 budget.